Don't fall in love with any of them
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I wasn't asking a question about DD, I was asking you about the statement that you just made about this is going to be the BIG news.
Do you know for a fact that there will be good news "from the Russia visit" or is this pure speculation on your part.
But forget about it, I can see that you will not answer a direct question. Thanks and GL
Thank you I have but you didn't answer the question that you are claiming
Do you know for a fact that there will be good news "from the Russia visit" or is this pure speculation on your part.
Buys coming in the last 10 minutes or so...0013s up
COYN News rode it up to .19 a while back
Thursday, May 24 2012 9:45 AM, EST COPsync Announces Record First Quarter 2012 Financial Results GlobeNewswire "Press Releases"
Dallas, TX , May 24, 2012 (GLOBE NEWSWIRE) -- COPsync, Inc. (OTCQB: COYN), which operates the nation's largest law enforcement real-time, in-car information sharing, communication and data interoperability network, announces unaudited financial results for the quarterly period ended March 31, 2012 .
Q1 2012 Financial Highlights**
The Company reported total revenues of $742,000 for Q1 compared to $388,000 for the same period in 2011 for a year-over-year increase of 91%.
Revenues for recurring, software subscription revenues were $359,000 for Q1 compared to $180,000 for the same period in 2011 for a year-over-year increase of 99%.
Total operating expenses were $1,007,000 for Q1 compared to $790,000 for the same period in 2011 for a year-over-year increase of 27%
The Company reported a GAAP net loss of $935,000 ( $0.01 per share) for Q1 compared to a net loss of $771,000 ( $0.01 per share) for the same period in 2011.
The Q1 2012 net loss would have been 16% lower than the 2011 net loss except that the Company increased the amortization of capitalized software development costs by $74,000 between periods and invested an additional approximate $217,000 inoperating expenses for new product innovations, including WARRANTsync, the Company's recently launched state-wide Class C misdemeanor warrant clearing data base and system.
** For more information, see the Company's recent Form 10-Q filing with the SEC .
"The COPsync information sharing network continues to grow at a robust pace, as evidenced by the nearly 100% year-over-year growth in the recurring, software subscription revenues," said Ronald A. Woessner , COPsync's chief executive officer. "Law enforcement agencies and their governing bodies continue to recognize COPsync's unique ability to help officers interdict crime, save officer lives and protect private property and speed ticketing and other manual processes. The Company continues to march toward the objective of building a nationwide network, beginning here in Texas , of law enforcement agencies that share information and communicate among themselves in real-time."
Mr. Shane Rapp , COPsync co-founder, added, "The Company recently introduced WARRANTsync, a state-wide Class C misdemeanor warrant clearing database and system. Texas municipal and justice courts hold in excess of 1 Billion dollars in outstanding Class C misdemeanor warrants. The fines underlying these warrants are virtually uncollectable inasmuch as there is no statewide Class C warrant database that an officer can access at the point of incident or contact with the public. The WARRANTsync system is designed to hold outstanding warrants in our state-wide database and to alert officers connected to the COPsync network of the outstanding warrants at the point of incident or contact, regardless of the circumstances that brought the officer and warrant offender together. The system enables the violator to post a bond for, or pay, the warrant, rather than being arrested and taken to jail."
About COPsync, Inc.
COPsync, Inc. (OTCQB: COYN) operates the largest law enforcement real-time, in-car information sharing, communication and data interoperability network in the U.S. The COPsync network enables officers to report and share critical data and collect bonds and payment for outstanding Texas Class C misdemeanor warrants in real-time at the point of incident. Officers are also able to obtain instant access to local, state and federal law enforcement databases. The COPsync system also eliminates manual processes and increases officer productivity by enabling officers to electronically write tickets, accident reports, DUI forms, arrest forms and incident and offense reports. It also saves lives, reduces unsolved crimes and assists in apprehending criminals and interdicting criminal behavior -- through such features as a nationwide officer safety alert system, GPS/auto vehicle location and distance-based alerts for crimes in progress, such as child abductions, bank robberies and police pursuits. For more information, visit
www.copsync.com.
CONTACT: Contact: COPsync, Inc. Ronald A. Woessner Investor Relations Department 972-865-6192 invest@copsync.com
Source: COPsync, Inc.
They will put out another fluff PR before it reaches there
NEWS
Thursday, May 24 2012 9:45 AM, EST COPsync Announces Record First Quarter 2012 Financial Results GlobeNewswire "Press Releases"
Dallas, TX , May 24, 2012 (GLOBE NEWSWIRE) -- COPsync, Inc. (OTCQB: COYN), which operates the nation's largest law enforcement real-time, in-car information sharing, communication and data interoperability network, announces unaudited financial results for the quarterly period ended March 31, 2012 .
Q1 2012 Financial Highlights**
The Company reported total revenues of $742,000 for Q1 compared to $388,000 for the same period in 2011 for a year-over-year increase of 91%.
Revenues for recurring, software subscription revenues were $359,000 for Q1 compared to $180,000 for the same period in 2011 for a year-over-year increase of 99%.
Total operating expenses were $1,007,000 for Q1 compared to $790,000 for the same period in 2011 for a year-over-year increase of 27%
The Company reported a GAAP net loss of $935,000 ( $0.01 per share) for Q1 compared to a net loss of $771,000 ( $0.01 per share) for the same period in 2011.
The Q1 2012 net loss would have been 16% lower than the 2011 net loss except that the Company increased the amortization of capitalized software development costs by $74,000 between periods and invested an additional approximate $217,000 inoperating expenses for new product innovations, including WARRANTsync, the Company's recently launched state-wide Class C misdemeanor warrant clearing data base and system.
** For more information, see the Company's recent Form 10-Q filing with the SEC .
"The COPsync information sharing network continues to grow at a robust pace, as evidenced by the nearly 100% year-over-year growth in the recurring, software subscription revenues," said Ronald A. Woessner , COPsync's chief executive officer. "Law enforcement agencies and their governing bodies continue to recognize COPsync's unique ability to help officers interdict crime, save officer lives and protect private property and speed ticketing and other manual processes. The Company continues to march toward the objective of building a nationwide network, beginning here in Texas , of law enforcement agencies that share information and communicate among themselves in real-time."
Mr. Shane Rapp , COPsync co-founder, added, "The Company recently introduced WARRANTsync, a state-wide Class C misdemeanor warrant clearing database and system. Texas municipal and justice courts hold in excess of 1 Billion dollars in outstanding Class C misdemeanor warrants. The fines underlying these warrants are virtually uncollectable inasmuch as there is no statewide Class C warrant database that an officer can access at the point of incident or contact with the public. The WARRANTsync system is designed to hold outstanding warrants in our state-wide database and to alert officers connected to the COPsync network of the outstanding warrants at the point of incident or contact, regardless of the circumstances that brought the officer and warrant offender together. The system enables the violator to post a bond for, or pay, the warrant, rather than being arrested and taken to jail."
About COPsync, Inc.
COPsync, Inc. (OTCQB: COYN) operates the largest law enforcement real-time, in-car information sharing, communication and data interoperability network in the U.S. The COPsync network enables officers to report and share critical data and collect bonds and payment for outstanding Texas Class C misdemeanor warrants in real-time at the point of incident. Officers are also able to obtain instant access to local, state and federal law enforcement databases. The COPsync system also eliminates manual processes and increases officer productivity by enabling officers to electronically write tickets, accident reports, DUI forms, arrest forms and incident and offense reports. It also saves lives, reduces unsolved crimes and assists in apprehending criminals and interdicting criminal behavior -- through such features as a nationwide officer safety alert system, GPS/auto vehicle location and distance-based alerts for crimes in progress, such as child abductions, bank robberies and police pursuits. For more information, visit
www.copsync.com.
CONTACT: Contact: COPsync, Inc. Ronald A. Woessner Investor Relations Department 972-865-6192 invest@copsync.com
Source: COPsync, Inc.
Waiting.....maybe get some @ .0025-.0026
Almost time to get some more to flip again
Welll....what is today's excuse????
this showed up on my equityfeed news streamer. i just asked what is was. no affillation with company. i have done my dd and own many shares. dont make personal comments towards me publicly without knowing anything about me. PS i am a him
Still holding and plan to continue to hold all my shares
What the heck was this news????
Tuesday, May 22 2012 12:54 PM, EST Research and Markets: PEST ANALYSIS - Infrastructure Developments in United States - 2012 Provides Future Prospects for the Sector M2 Communications "M2 PressWIRE"
Dublin - Research and Markets
(http://www.researchandmarkets.com/research/tdg9b6/pest_analysis_in) has announced the addition of the "PEST ANALYSIS - Infrastructure Developments in United States " report to their offering.
PEST analysis of any industry sector investigates the important factors that are affecting the industry and influencing the companies operating in that sector. PEST is an acronym for political, economic, social and technological analysis. Political factors include government policies relating to the industry, tax policies, laws and regulations, trade restrictions and tariffs etc. The economic factors relate to changes in the wider economy such as economic growth, interest rates, exchange rates and inflation rate, etc. Social factors often look at the cultural aspects and include health consciousness, population growth rate, age distribution, changes in tastes and buying patterns, etc. The technological factors relate to the application of new inventions and ideas such as R&D activity, automation, technology incentives and the rate of technological change.
Synergyst's PEST Analysis is a perfect tool for managers and policy makers; helping them in analyzing the forces that are driving their industry and how these factors will influence their businesses and the whole industry in general. This product also presents a brief profile of the industry comprising of current market, competition in it and future prospects of that sector.
Key Topics Covered:
SECTOR OVERVIEW
-- Current Market
-- Competition and Key Players
-- Market Forecast
PEST ANALYSIS
-- Political Factors
-- Economic Factors
-- Social Factors
-- Technological Factors
CONCLUSION
For more information visit http://www.researchandmarkets.com/research/tdg9b6/pest_analysis_in
CONTACT:
Research and Markets ,
Laura Wood ,
Senior Manager.
press@researchandmarkets.com
Fax from USA : 646-607-1907
Fax from rest of the world: 353-1-481-1716
Sector: Construction (http://www.researchandmarkets.com/categories.asp?cat_id=49&campaign_id=tdg9b6)
(( M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com)).
I know VERT sits there forever showing 5K shares on the Ask with buy after buy coming in and VERT never moves, once he moves it usually goes up
COPSYNC, INC. - 10-Q - Management's Discussion and Analysis of Financial Condition and Results of Operations Edgar Online "Glimpses"
Statements in this report which are not purely historical facts or which necessarily depend upon future events, including statements about trends, uncertainties, hopes, beliefs, anticipations, expectations, plans, intentions or strategies for the future, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks and uncertainties described in our annual report on Form 10-K for the fiscal year ended December 31, 2011 . Any of these risk factors could have a material adverse effect on our business, financial condition or financial results and reduce the value of an investment in our securities. We may not succeed in addressing these and other risks associated with an investment in our securities, with our business and with our achieving any forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements are based upon information available to us on the date the statements are made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Overview
COPsync, Inc. sells the COPsync service, which is a real-time, in-car information sharing, communication and data interoperability network for law enforcement agencies. The COPsync service enables patrol officers to collect, report and share critical data in real-time at the point of incident and obtain instant access to various local, state and federal law enforcement databases. The COPsync service also eliminates manual processes and increases officer productivity by enabling officers to electronically write tickets, process DUI and other arrests and document accidents and other incidents. The service saves lives, reduces unsolved crimes and assists in apprehending criminals through such features as a nationwide officer safety alert system, GPS/auto vehicle location and distance-based alerts for crimes in progress, such as child abductions, bank robberies and police pursuits. We have designed our system to be "vendor neutral," meaning it can be used with products and services offered by other law enforcement technology vendors. Additionally, our system architecture is designed to scale nationwide.
We were incorporated on October 23, 2006 , in Delaware .
To date, our COPsync service has successfully submitted, processed and relayed over 2,722,000 officer initiated information requests. On average, our service is returning results to mobile users in less than five seconds, well within the 32 second average NCIC 2000 standard for mobile clients.
As of March 31, 2012 , over 250 law enforcement agencies, primarily in the State of Texas , had contractually subscribed to use our real-time data collection and data sharing service
We offer our software as a service (SaaS) on a subscription basis to our customers who subscribe to use the service for a specified term. Service fees are typically paid annually at the inception of each year of service. Our business model is to obtain subscribers to use our service, achieve a high subscription renewal rate from those subscribers and then grow our revenue via a combination of new subscribers and renewals of existing subscribers. Pertinent attributes of our business model include the following:
- We incur start-up costs and recurring fixed costs to establish and maintain the service.
- We acquire subscribers and bring them onto the service, which requires variable acquisition costs related to sales, installation and deployment.
- Subscribers are recruited with the goal of reaching a level of aggregate subscriber payments that exceeds the fixed (and variable) recurring service costs.
- Adding new subscribers at a high rate and having a high renewal rate among existing subscribers is essential to attaining positive cash flow from operations in the near term.
Assuming we are successful in obtaining new users of our service, as well as retaining high renewal rates of existing users, we anticipate that the recurring nature of the COPsync network subscription model will result in annually recurring, sustainable and predictable cash and revenue growth, year-over-year.
In the Homeland Security Act of 2002, Congress mandated that all U.S. law enforcement agencies, federal, state and local, implement information sharing solutions, referred to as "interoperability." The COPsync service provides this interoperability. Prior to the introduction of our service, significant real-time, in-field, information sharing among law enforcement agencies, regardless of the vendor used, did not exist in the United States . We believe that this lack of interoperability exists because law enforcement software vendors maintain proprietary systems, which do not interoperate with systems of other vendors. Our business model is to connect the proprietary systems of these various vendors, thus enabling the sharing of real-time, in-field, information between the agency customers of those vendors. Our service can act as an overlay for those vendors who do not offer an in-vehicle mobile technology or an underlay that operates in the background for those vendors that do offer an in-vehicle mobile technology.
19
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Table of Contents
Basis of Presentation, Critical Accounting Policies and Estimates
Critical Accounting Policies and Estimates
The preparation of financial statements and related disclosures in accordance with accounting principles generally accepted in the United States requires the Company's management to make estimates and assumptions that affect the amounts reported in the Company's financial statements and accompanying notes. Actual results could differ from these estimates and assumptions. Critical accounting policies and estimates are defined as those that are both most important to the portrayal of the Company's financial condition and results and require management's most subjective judgments.
We describe our significant accounting policies in Note 2, Summary of Significant Accounting Policies, of the Notes to Financial Statements included in our annual report on Form 10-K for the year ended December 31, 2011 . We discuss our Critical Accounting Policies and Estimates in Management's Discussion and Analysis of Financial Condition and Results of Operations in our annual report on Form 10-K for the year ended December 31, 2011 .
Results of Operations
Revenues.
Total revenues of $741,871 for the three months ended March 31, 2012 increased in comparison to the $387,866 in total revenues for the same period in 2011. Total revenues are comprised of software license/subscriptons revenue and hardware, installation and other revenue. Software license/subscriptons revenue is a key performance indicator of revenue performance in future years since this revenue represents that portion of our revenue that is anticipated to recur as our service contracts renew from year-to-year. Hardware, installation and other revenue is a one-time revenue event and is thus not a key performance indicator of future performance. Software license/subscriptons revenue increased by $179,846 for the three months ended March 31, 2012 compared to the same period in 2011, and comprised 48% of the total revenues, compared to 46% of total revenues in 2011. The increase in software license/subscriptons revenue was due to an increase in the number of contracted law enforcement agencies between periods, plus the revenue attributable to contract renewals. Hardware, installation and other revenues of $382,503 in fiscal 2012 reflected an increase of $174,159 when compared to the $208,344 for the same period ending March 31, 2012 . The increase in revenues for hardware, installation and other in 2012 reflects a higher percentage of contracts requiring equipment as compared to the same period in 2011.
Many of our new contracts are multiple-year contracts that typically include hardware, installation and training (and integration in some cases) and one year of software license/subscriptions revenue during the first year of the contract followed by software license/subscriptions revenue during the remaining years of the contract. Normally, we receive full payment up front upon inception of the contract. This up-front payment is initially recorded as deferred revenues and subsequently recognized as revenue during the service period. We do not believe the resulting increase in deferred revenues has a material effect on our future working capital for the later years of the contract service periods because our customer support costs are incrementally fixed in nature. Beginning in the third quarter of 2011 many of our contracts contained price discounts. These discount amounts were allocated, in accordance with applicable accounting guidelines, to the separate, contract elements, such as hardware, installation and officer setup and training, certain integration services and service fees. As a result, we experienced a lower gross profit on hardware, installation and other revenues. We expect continued discounting on our contracts products and services for the remainder of 2012.
20
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Table of Contents
Cost of Revenues and Gross Profit (Loss)
The following is a summary of the cost of revenues and gross profit or loss performances for the respective revenue types for the respective three-month periods ending March 31, 2012 and 2011:
2012 2011 $ % $ % Hardware, installation and other revenues Revenues $ 382,503 100 % $ 208,344 100 % Cost of Revenues-hardware & other external costs 406,279 107 % 195,376 94 % Cost of Revenues-internal costs 36,125 9 % 33,037 16 % Total Cost of Revenues $ 442,404 116 % $ 228,413 110 % Total Gross Loss $ (59,901 ) -16 % $ (20,069 ) -10 % Software license/subscription revenues Revenues $ 359,368 100 % $ 179,522 100 % Cost of Revenues-internal costs 51,506 14 % 15,228 8 % Cost of Revenues-OEM distributor fees 60,685 17 % 0 0 % Amortization of capitalized software development costs 109,120 30 % 34,918 19 % Total Cost of Revenues 221,311 62 % 50,146 28 % Total Gross Profit $ 138,057 38 % $ 129,376 72 % Total Company Revenues $ 741,871 100 % $ 387,866 100 % Cost of Revenues 663,715 89 % 278,559 72 % Total Gross Profit $ 78,156 11 % $ 109,307 28 %
For the respective three-month periods ended March 31, 2012 and 2011, our total cost of revenues were $663,715 and $278,559 , resulting in a gross profit of $78,156 and $109,307 , respectively.
Cost of revenues for hardware, installation and other revenues for the three-month period ended March 31, 2012 totaled $442,404 , compared to $228,413 for the comparable period in in 2011. The increase of approximately $214,000 was due to higher hardware sales between periods. Included in these cost of revenues are internal costs which were relatively flat between periods. These costs represent salaries and travel expenses for our in-house installation and training staff. The total gross loss of $59,901 for the three month period ended March 31, 2012 , was due principally to the allocation of price discounts in accordance with applicable accounting guidelines, which resulted in top-line revenue being lower than it would have been without the price discount allocation. The total gross loss of $20,069 for the three month period ended March 31, 2011 , was due to revenue from hardware sales not being of sufficient volume to cover the related internal costs.
Cost of revenues for software license/subscription revenues for the three-month period ended March 31, 2012 totaled $221,311 , compared to $50,146 for the comparable period in in 2011. The increase of approximately $171,000 consisted of approximately $71,000 in increased amortization expense for capitalized software development costs, $60,000 for OEM distributor fees and $36,000 for increased internal costs. These internal costs represent costs associated with our customer support team and web-hosting facilities. Although there was an increase in the internal costs between periods, we anticipate these costs to remain relatively flat in the future. The resulting gross profit was $138,057 and $129,376 , for the three-month periods ended March 31, 2012 and 2011, respectively.
Our total cost of revenues has the potential to fluctuate with revenues because of the variable cost nature of hardware, installation and other revenues contained in future contracts and as discussed above. Conversely, our internal costs associated with installation, training, customer support and web-site hosting are relatively flat.
21
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Table of Contents Operating Expenses. Research and Development
Total research and development expenses for the three-month periods ended March 31, 2012 and 2011 were $347,505 and $132,298 , respectively. The approximate increase of $215,000 is due principally to the introduction of two new product/service offerings to be announced later this year, as well as, continued enhancement of the existing product/service offerings. As a result, compensation-related expenses associated with increased headcount, to include contract labor for IT/software development services, increased between periods by $155,000 , as well as $53,000 for non-recurring expenses for product development activities. We believe these higher levels of expense will continue through the remainder of 2012.
Sales and Marketing
Total sales and marketing expenses for the three-month periods ended March 31, 2012 and 2011 were $361,960 and $230,471 , respectively. The approximate increase of $131,000 is being driven principally by the introduction of the two new product/service offerings to be announced later this year, which have prompted increased headcount in sales and sales support as we ramp-up our pre-introduction sales efforts, as well as related travel expenses. Compensation-related expenses increased by $101,000 and travel expenses have increased by $30,000 . We believe our current staffing levels are sufficient to adequately support our new product introductions in 2012, and we anticipate continued, high costs of travel expenses principally because fuel costs resulting from our sales team's use of fleet automobiles.
General and Administrative
Total general and administrative expenses for the three-month periods ended March 31, 2012 and 2011 were $297,778 and $427,674 , respectively. The approximate decrease of $130,000 is being driven principally by decreased professional fees between periods, and consisting of a one-time, non-cash event where stock valued at $63,750 was granted to an outside consultant for services rendered, and approximately $66,000 for fees due a contracted investment firm which provided government relations and consulting services, sales services and technical support. We believe general and administrative expenses for the remainder of 2012 may increase approximately five percent over current levels.
Other Expense.
For the three months ended March 31, 2012 , other expense totaled $5,866 , consisting principally of interest expense. For the comparable period ended March 31, 2011 , other expense totaled $90,307 and consisted of a $76,994 one-time, non-cash charge involving management's election to extend the term of outstanding warrants to purchase 3,000,000 shares of our common stock for the holders of our Series B Preferred Stock and interest expense of $13,383 .
Net Loss Before Income Taxes
The net loss before income taxes for the three-month periods ended March 31, 2012 and 2011, were $934,953 and $771,443 , respectively, for an increased loss of $163,510 .
Liquidity and Capital Resources
We have funded our operations since inception through the sale of equity and debt securities and from cash generated by operating activities. As of March 31, 2012 , we had $440,936 in cash and cash equivalents, compared to $1,074,317 as of December 31, 2011 . The decrease was due primarily to $642,070 net cash used in operating activities and $6,846 in net cash used by investing activities, partially offset by $15,535 in net cash provided by financing activities. The net cash increase attributable to financing activities represents cash proceeds of $60,685 received from our two original equipment manufacturer ("OEM") distributors. This increase was partially offset by $45,150 in payments on certain notes payable. We had a working capital deficiency of $977,164 on March 31, 2012 , compared to a deficiency of $405,268 on December 31, 2011 . With regards to the deficiency on March 31, 2012 , the current liabilities include $1,087,773 in net deferred revenues attributable to future performance periods under prepaid customer contracts, which we do not believe will have a material effect on our future working capital in the later years of the contract because our customer support costs are incrementally fixed in nature.
22
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Table of Contents
Plan of Operation for the Next Twelve Months
At March 31, 2012 , we had cash and cash equivalents on hand of $440,936 and had a working capital deficiency of $977,164 . Net deferred revenues totaling $1,087,773 slightly exceeds the deficiency, for which we believe the future service costs will be relatively low and incrementally fixed in nature.
We have increased our expense levels over 2011 levels to invest in our direct sales efforts and to invest in new product offerings. We expect these increased expense levels to result in negative cash flow during the first two or three quarters of 2012. We expect to support these planned expense increases by raising additional capital.
As of May 18, 2012 , we had obtained written subscriptions for new capital approximating $1,848,000 . The subscriptions were for a unit consisting of five shares of our common stock and one warrant to purchase another share of our common stock, at a purchase price of $0.50 per unit. We anticipate collecting at least $1,000,000 by June 30, 2012 , The exercise price of the warrants is $0.10 per share of common stock and the warrants will expire four years from the issuance date.
With these subscriptions and other foreseeable funding sources, we believe we will have adequate cash resources for the next twelve months.
VERT moved off ask, time for the normal little move up
BKRT moved, now MM games
Hitting the bid isn't gonna make it move, you may save 25-50 dollars but it only hurts it from moving so there is really not much of a gain hitting the bid...SLAP that ASK
Sounds good, still holding and adding
.0013 on the Ask now
Come on...hit that .0014. I just took 150K more, 5K went @ .0013
VERT gone, lets close up
I forgot I put 175K up @ .0013 this morning showing a friend something, it just went through a few minutes ago while VERT @ .0012 hmmm
If VERT would move we could actually close @ 0013 or 0014
Yup....the true story
Please quit misleading people, this was between 2004-2007
Mr. Trump’s address is c/o the Trump Organization, 725 Fifth Avenue, New York, NY 10022. Mr. Trump was paid these shares as compensation for granting us the rights to publish the Trump Magazine which agreement was terminated on August 31, 2007.
Sobe was the publisher of the “Trump Magazine,” of which it ceased publication following the winter edition. On August 31, 2007 Trump World Publications, LLC and Mr. Donald Trump (“Trump”) terminated their publishing and licensee agreements with Sobe. On the date of termination, Sobe owed Trump $270,000 of unpaid license fees.
Mr. Trump was paid these shares as compensation for granting us the rights to publish the Trump Magazine which agreement was terminated on August 31, 2007.
still adding @ these levels
MM games now
.0027x.0028 UTing, looking much better here
VERT finally gone, can move now
Well well, NITE finally moved
Just added more myself, lil over 2 mil shares now
Over 600k bought with NITE showing 5K, NO CHANGE, come on let it move
NEWS
Wednesday, May 16 2012 9:30 AM, EST Racing Limos America Q1 2012 Revenues Top Estimates PR Newswire "Press Releases US - English"
DOVER, N.H. , May 16, 2012 /PRNewswire/ --Racing Limos America, Inc., a subsidiary of Atlas Technology Group (OTC:ATYG), posted a 53.4% increase in revenues over the previous quarter, topping recent estimates.
In addition, Racing Limos America financials report a whopping 900% increase over the same quarter last year, as well as continued reduction of overall debt.
"The first quarter numbers are even better than I thought," said Atlas CEO and Racing Limos America President James Albion . "I was also surprised by how much better we did first quarter of 2012 over first quarter 2011. What I'm most pleased about is that we continue to reduce debt."
Albion says one of the big goals in 2012 is to get Racing Limos America debt free. "If we are to get Canada opened this year, it needs to be coupled with the elimination of our initial debt along with continued revenue increases. If we can get Canada open without deepening our debt structure, it will be a huge financial victory for us."
With continued franchise inquiries in both the US and Canada , and the pursuit of national marketing partnerships, Albion still believes 2012 to be Racing Limos America's break-out year. "The first half of this year has been setting things up nicely. If the second half of 2012 is even a smidge of what could potentially happen," Albion smiles. "Wow."
About Racing Limos America, Inc.
Headquartered in Dover, NH Racing Limos America, Inc. is a franchise operating system of race car themed stretch limousines, focused on advertising and marketing partnerships, business-to-business relationship development, and specialty transportation. For more information visit www.racinglimosamerica.com
Forward-looking Statements:
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with operations outside the United States ; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission . The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
CONTACT: Racing Limos America, Inc. Investor Relations at (800) 399-6717 or by email at investwithus@racinglimosamerica.com
SOURCE Racing Limos America, Inc.
10Q Management Discussion
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL Edgar Online "Glimpses"
CONDITION AND RESULTS OF OPERATIONS
This Management's Discussion and Analysis of Financial Condition and Results of Operations and other
parts of this quarterly report contain forward-looking statements that involve risks and uncertainties.
Forward-looking statements can be identified by words such as "anticipates," "expects," "believes,"
"plans," "predicts," and similar terms. Forward-looking statements are not guarantees of future
performance and our actual results may differ significantly from the results discussed in the forward-
looking statements. Factors that might cause such differences include but are not limited to those
discussed in the subsection entitled Forward-Looking Statements and Factors That May Affect Future
Results and Financial Condition below. The following discussion should be read in conjunction with our
financial statements and notes thereto included in this report. All information presented herein is based on
our quarterly period ended March 31, 2012 . Our fiscal year end is December 31 .
Beginning in 2008 we targeted a wide variety of private and government funded jobs in the Middle East ,
particularly in the U.A.E. , but the substantial economic slowdown in these markets shifted our focus to
U.S. government contracts and subcontracts in Southeast Asia . However, because of the narrow profit
margins on our U.S. Navy contracts in Southeast Asia , as well as our competition in the area, we have
suspended bidding on such projects at this time. We will bid on specialty contracts as they arise and we
will continue to market prefabricated housing as opportunities arise. The Company has more recently
begun focusing on U.S. governmental operations in the United States and on the Company's alternative
engine fuels operations in Thailand and the United States .
The Company's first big step into the alternative fuels business is with operations at its facility in
Chonburi, Thailand with the diesel to CNG conversion of a huge 250Kva/200Kw Cummins diesel
generator at the end of 2011. The Company expects to expand CNG operations with additional generator
acquisitions, conversions and sales in Thailand in the coming months.
On July 1, 2011 , the Company entered into a memorandum of understanding with Cleanfield Energy, Inc.
("Cleanfield"), as amended on July 7, 2011 . The MOU provides the Company with the exclusive right to
collaborate with Cleanfield and the right of first refusal to acquire or form a more comprehensive joint
venture with Cleanfield. The Company has been committed to providing Cleanfield with interim funding
to cover expenses for the furtherance of the business plan. At the end of 2011 we opened a conversion
location with Cleanfield in Tempe, Arizona . When this facility becomes fully established, the Company
intends to establish a regional network of conversion facilities and fueling points. This expansion will use
a number of proven devices, including fully owned branches, franchises, and innovative joint ventures.
For the three month period ended March 31, 2012 :
(i)
The Company continued contact with U.S. firms to establish strategic partnerships for
domestic U.S. military projects.
(ii)
The Company received its final payment for the U.S. Navy's Lido Phase II Project in
Indonesia and made final payments to our subcontractors.
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(iii)
On February 1, 2012 , the Company entered into a Share Exchange Agreement (dated January
11, 2012) with InterMedia Development Corporation ("InterMedia") whereby the Company
is to acquire 100% of the outstanding shares of InterMedia's common stock from
InterMedia's shareholders in exchange for an aggregate of 84,000,000 shares of the
Company's common stock. As a result of closing the transaction the InterMedia shareholders
would hold approximately 20% of our issued and outstanding common stock. The parties
expect to amend the closing date of the Agreement to close the Agreement in the coming
months. As an obligation to consummate the closing of the Agreement, the Company will
initiate two private placements to raise a minimum of $300,000 within six months and an
additional minimum of $400,000 within twelve months of closing the Agreement.
If the
Company fails to raise the minimum amounts, the Company will be required to issue an
additional 20,000,000 shares and may be required to issue an additional 90,000,000 shares,
respectively. InterMedia is a media production company and defense contractor based in
Fairfax, Virginia . (iv)
On February 6, 2012 , the Company changed its fiscal year end from June 30 to December 31 .
The report covering the transition period was filed on Form 10-K for the six-month period
between June 30, 2011 and December 31, 2012 .
Net Losses
Net loss for the three month period ended March 31, 2012 was $54,749 as compared to $3,129,266 for the
three month period ended March 31, 2011 , a decrease of 98%. The decrease in net loss over the
comparable periods is due to decreases in operating expenses and the absence of losses associated with
Power Track Projects FZE's ("Power Track") business in the current three month period. Net loss in the
previous three month period was primarily due to costs associated with Power Track's business. The
Company is confident that it will transition to net income in the next twelve months based on the
prospective acquisition of InterMedia and the anticipated development of CNG related activities in the
U.S. and Thailand . Net Revenues
Net revenues for the three month period ended March 31, 2012 were $56,300 as compared to $189,469
for the three month period ended March 31, 2011 , a decrease of 70%. The decrease in net revenues over
the comparable periods can be attributed to a decrease in management contract revenue related to Lido
Phase II. We expect net revenues to increase over the next twelve months as a result of our development
of CNG related activities in the U.S. and Thailand .
Gross Profit/ Loss
Gross loss for the three month period ended March 31, 2012 was $4,886 as compared to $19,083 for the
three month period ended March 31, 2011 , a decrease of 74%. The decrease in gross loss in the current
period is due to costs from our Lido Phase II project which exceeded revenues. We expect to transition to
gross profits over the next twelve months in step with our expected realization of CNG related revenues.
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Operating Expenses
Operating expenses for the three month period ended March 31, 2012 decreased to $46,491 from
$2,354,827 for the three month period ended March 31, 2011 , a decrease of 98%. Operating expenses are
from general, selling and administrative expenses, salaries and wages, and depreciation and amortization
expense. Over the periods general, selling and administrative expenses decreased to $33,991 from
$517,689 and salaries and wages decreased to $12,500 from $92,694 . Over the periods our provision for
slow moving inventories and bad debt expense (due to the suspension of Power Track's quarry operations)
decreased to $0 from $1,387,123 and $357,321 , respectively. We expect operating expenses to increase in
the near term as we develop CNG related operations.
Other Expenses
Other expenses for the three month period ended March 31, 2012 were $3,372 compared to $755,356 for
the three month period ended March 31, 2011 . The decrease was primarily due to a loss in the previous
period of $1,091,071 on the sale of Power Track's fixed assets (crushing and mobile earthmoving
equipment, a mobile labor camp, trucks, generators, and compressors for use in Power Track's mining
operations).
Liquidity and Capital Resources
Our financial statements have been prepared assuming that we will continue as a going concern and,
accordingly, do not include adjustments relating to the recoverability and realization of assets and
classification of liabilities that might be necessary should we be unable to continue operations.
As of March 31, 2012 , we had a working capital deficit of $333,605 . Our current and total assets were
$63,533 consisting of cash of $18,319 , prepaid expenses of $24,073 and other current assets of $21,141 .
Our current and total liabilities were $397,138 consisting of notes payable of $304,426 , accounts payable
of $45,260 and accrued expenses of $47,452 . Stockholders deficit was $333,605 as of March 31, 2012 .
Cash flows used in operating activities for the three month period ending March 31, 2012 were $51,870
compared to $2,808,974 for the three month period ending March 31, 2011 . Cash flow used in operating
activities in the current period is primarily due to net losses, and changes in operating assets and liabilities
of both a decrease in notes payable and an increase in other current assets. We expect to transition to cash
flow provided by operations over the next twelve months once we transition from net losses to net
income.
Cash flows provided by investing activities for the three month period ending March 31, 2012 were $0
compared to $412,446 for the three month period ending March 31, 2012 . We expect to use cash flow in
investing activities over the next twelve months as we develop CNG operations in the U.S. and Thailand .
Cash flows provided by financing activities for the three month period ending March 31, 2012 were
$27,500 as compared to $2,442,003 for the three month period ending March 31, 2011 . Cash flows
provided by financing activities in the current period are attributable to common stock issued against debt
and cash. In the previous period cash flow provided by financing activities was due to long term debt
owed to WWA Group. We expect to realize cash flows provided by financing activities over the next
twelve months in connection with our agreement to acquire InterMedia.
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Our current assets are insufficient to meet the Company's business objectives over the next twelve
months. We need a minimum of $100,000 in debt or equity financing to maintain operations and to fulfill
our business plan in addition to $700,000 required to complete the acquisition of InterMedia. Although,
we have no commitments or arrangements for this level of financing, our shareholders remain the most
likely source of loans or equity placements to ensure our continued operation though such support can in
no way be assured. Our inability to obtain additional financing will have a material adverse affect on our
business operations.
We have no lines of credit or other bank financing arrangements in place.
We have no commitments for future capital expenditures that were material at the end of the period.
We have no defined benefit plan or contractual commitment with any of our officers or directors.
We have no current plans for the purchase or sale of any plant or equipment.
We have no current plans to make any changes in the number of employees.
We do not expect to pay cash dividends in the foreseeable future.
Future Company Financings
We will continue to rely on debt or equity sales to continue to fund our business operations even though
the issuance of additional shares will result in dilution to our existing stockholders.
Company Reporting Obligations
We do not anticipate any contingency upon which it would voluntarily cease filing reports with the
Securities and Exchange Commission as it is in the interest of the Company to report its affairs quarterly,
annually and currently to provide accessible public information to interested parties.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or
future effect on our financial condition, changes in financial condition, revenues or expenses, results of
operations, liquidity, capital expenditures or capital resources that are material to investors.
Interest Rates
Interest rates are generally controlled. The majority of our debt is owed to a related party at a fixed
interest rate so fluctuations in interest rates do not impact our result of operations at this time. However,
we may need to rely on bank financing or other debt instruments in the future in which case fluctuations
in interest rates could have a negative impact on our results of operations.
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Forward Looking Statements and Factors That May Affect Future Results and Financial Condition
The statements contained in the section titled Management's Discussion and Analysis of Financial
Condition and Results of Operations and elsewhere in this annual report, with the exception of historical
facts, are forward looking statements. We are ineligible to rely on the safe-harbor provision of the Private
Litigation Reform Act of 1995 for forward looking statements made in this annual report. Forward-
looking statements reflect our current expectations and beliefs regarding our future results of operations,
performance, and achievements. These statements are subject to risks and uncertainties and are based
upon assumptions and beliefs that may or may not materialize. These statements include, but are not
limited to, statements concerning:
our financial performance; the sufficiency of existing capital resources; our ability to fund cash requirements for future operations;
uncertainties related to the growth of our business and the acceptance of our services;
our ability to achieve and maintain an adequate customer base to generate sufficient revenues to
maintain and expand operations;
the volatility of the stock market; and
general economic conditions.
We wish to caution readers that our operating results are subject to various risks and uncertainties that
could cause our actual results to differ materially from those discussed or anticipated including the factors
set forth in the section entitled Risk Factors included elsewhere in this report. We also wish to advise
readers not to place any undue reliance on the forward looking statements contained in this report, which
reflect our beliefs and expectations only as of the date of this report. We assume no obligation to update
or revise these forward-looking statements to reflect new events or circumstances or any changes in our
beliefs or expectations, other than is required by law.
Going Concern
Our auditors included an explanatory statement in their report on the Company's consolidated financial
statements for the transition periods ended December 31, 2011 and 2010 and the years ended June 30,
2011 and 2010, expressing an opinion as to our ability to continue as a going concern as a result of a
working capital deficit, negative cash flows, and accumulated net losses. Our ability to continue as a
going concern is subject to the ability of the Company to transition to net income in 2012 and obtaining
additional funding from outside sources. Management's plan to address the Company's ability to continue
as a going concern includes (i) increasing our gross profit; (ii) financing from private placement sources;
and (iii) converting outstanding debt to equity. Although the Company believes that it will be able to
remain a going concern, through the methods discussed above, there can be no assurances that such
methods will prove successful.
Recent Accounting Pronouncements
Please see Note 10 to our consolidated financial statements for recent accounting pronouncements.
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Stock-Based Compensation
We have adopted Accounting Standards Codification Topic ("ASC") 718, Share-Based Payment, which
addresses the accounting for stock-based payment transactions in which an enterprise receives employee
services in exchange for (a) equity instruments of the enterprise or (b) liabilities that are based on the fair
value of the enterprise's equity instruments or that may be settled by the issuance of such equity
instruments.
We account for equity instruments issued in exchange for the receipt of goods or services from other than
employees in accordance with ASC 505. Costs are measured at the estimated fair market value of the
consideration received or the estimated fair value of the equity instruments issued, whichever is more
reliably measurable. The value of equity instruments issued for consideration other than employee
services is determined on the earliest of a performance commitment or completion of performance by the
provider of goods or services.
ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET
RISK Not required. ITEM 4. CONTROLS AND PROCEDURES
Evaluation of Disclosure Controls and Procedures
In connection with the preparation of this report on Form 10-Q, an evaluation was carried out by the
Company's management, with the participation of the chief executive officer and the chief financial
officer, of the effectiveness of the Company's disclosure controls and procedures (as defined in Rules
13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 ("Exchange Act")). Disclosure
controls and procedures are designed to ensure that information required to be disclosed in reports filed or
submitted under the Exchange Act is recorded, processed, summarized, and reported within the time
periods specified in the Commission's rules and forms and that such information is accumulated and
communicated to management, including the chief executive officer and the chief financial officer, to
allow timely decisions regarding required disclosures.
Based on that evaluation, the Company's management concluded, as of the end of the period covered by
this report, that the Company's disclosure controls and procedures were not effective in recording,
processing, summarizing, and reporting information required to be disclosed, within the time periods
specified in the Commission's rules and forms, and that such information was not accumulated and
communicated to management, including the chief executive officer and the chief financial officer, to
allow timely decisions regarding required disclosures.
Changes in Internal Control over Financial Reporting
There have been no changes in internal control over financial reporting (as defined in Rule 13a-15(f) of
the Exchange Act) during the period ended March 31, 2012 , that materially affected, or are reasonably
likely to materially affect, the Company's internal control over financial reporting.
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